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Some of the institutions we work with include Betterment, SoFi, TastyWorks and other brokers and robo-advisors. A few decades ago the discount brokerage services gold rush began when the American government relaxed regulations against fixed brokerage commissions. It should be noted that Ameritrade and Scottrade are now the same company and the two names can be used interchangeably, although it is likely that Ameritrade will phase out the Scottrade brand in the future.
Both remain among the top trading platforms in the industry, offering consumers a wide range of investment options. Both companies allow you to set stock alerts, perform ladder trading, screen stocks, and manage ETFs, mutual funds, options, and bonds. As expected from two top trading platforms, they each offer a desktop software app for Windows and Mac, and full-service websites.
And they both provide a full range of mobile apps on Android and Apple as well as an Apple Watch app. Each platform features comprehensive educational tools, including live seminars and online quizzes. Both companies offer a wide variety of charts, including historical trades, but Scottrade has more options. Both offer checking accounts and debit cards, but only Scottrade offers credit cards. But only Ameritrade lets you buy and sell foreign currencies forex.
All bonds and CMOs except for treasuries at auction and CDs both new issue and secondary are charged on a net yield fee basis. Both companies are full-service online trading platforms with mobile apps, desktop apps, and even an Apple Watch app. TD Ameritrade leads the industry with its thinkorswim platform — it is about as close as you can get to a professional-grade trading platform, and features extensive education in financial markets and trading techniques. This includes virtual trading called paperMoney and deep histories on stocks and options as well as the ability to set up complex trading strategies.
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Both companies offer similar investment options: stocks, options, futures, ETFs, mutual funds, and bonds. Customer service has been reported to be extremely professional, knowledgeable, and fast responding. No minimum deposit : TD Ameritrade requires no minimum deposit to open an account , so you can start investing with as little as you'd like.
Most other online brokers have a minimum requirement to open an account. Applies to U. New Ally Invest customers only. Account must be funded for at least 60 days to be eligible for cash bonus. Potential confusion with multiple apps and platforms : While it's nice to have options, having 2 distinct mobile apps and 2 distinct trading platforms - both of which have very different target audiences - might get a bit confusing for those who are new to the platform.
You'll definitely have some homework to do to figure out which platform and mobile app is the best fit for your needs. Accounts will be reviewed 60 days after account opening to determine the total qualifying deposit.
Corresponding cash bonus will be credited to the account within 10 business days. Once the bonus is credited to the account, the bonus and qualifying deposit minus any trading losses is not available for withdrawal for days. If the qualifying deposit is withdrawn, the bonus may be revoked.
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TD Ameritrade charges more per trade than some of its competitors, but it makes up for that with a great trading platform and superior research offerings. You may find that they're worth those extra couple of dollars. We think this platform is good for moderately experienced to experienced investors who want to build wealth for the long haul and who will appreciate the slew of features, analytical tools, and research options.
It might be overkill for the more beginner of investors, who may not take full advantage of all the features. In that case, you might be better off with a lower cost online brokerage. We'll explain more below.
Scottrade Review: Trading Experience & Tips (Updated ) — My Money Blog
But first, let's highlight the current TD Ameritrade promotions. TD Ameritrade's on-site research tools are impressive: a single search will bring you several different third-party research reports. Third-party data on securities is provided by Thomson Reuters equities and Morningstar mutual funds. You also have the option to customize your site's appearance with the My Dock sidebar feature - choose up to 13 modules to display at once, depending on which information you want most easily at hand.
Another major feature of the site is the streaming of real-time quotes - a functionality not matched by some of the other main competitors. Investors who like to be able to trade quickly will also appreciate the SnapTicket feature, which allows you to place orders from any page on the site. TD Ameritrade has made 2 different trading platforms available to users:.
Thinkorswim is more geared toward highly advanced investors who will be doing in-depth technical analysis. It was a standalone trading platform until it was acquired by TD Ameritrade, and even the most analytical of investors will find little missing when using it. Heat maps, earnings calendars, and hundreds of technical studies to accompany each chart are just the beginning of what the Thinkorswim platform has to offer.
Live streaming of real-time quotes and newsfeeds from CNBC Automatically roll forward your predefined strategy every month Market Maker Move that predicts the movement of your stocks based on market volatility Screen for stocks that meet your criteria Get recommendations from former CBOE traders See the market displayed through heat maps Back testing - trying out a current strategy on historical financial information Over customizable technical studies for each chart myTrade forum that allows you to share your strategies and charts.
It's still a very good platform, offering real-time quotes, tools and third-party research, and fully customizable layout. Both are available to any TD Ameritrade customer who wants to use them. There are no trade quantity or account value thresholds to access either one. Like its trading platforms, TD Ameritrade has decided to offer 2 different mobile apps as well.
The names are similar, and therefore can be confusing for newer customers:. TD Ameritrade Mobile is for the casual investor.
Scottrade vs Etrade: How They Compare (My Honest Guide)
We select the executions that should be split out into their own trade — in this case, the June vertical open and closing executions:. One will contain the June vertical opening and closing executions, and will be closed. The other will contain the opening executions for the July vertical, and will be an open trade. We have added support to Tradervue for mini options. They will be represented in Tradervue like this:. So far, the generic import format supports mini options be sure to end your contract names with M as shown above , and the OptionsHouse importer will import mini options.
We have added options support for traders using Scottrade. As always, log into Tradervue, click Import Trades , select Scottrade, and follow the instructions!